Stably Launches Stablecoin On/Off Ramps on the Stellar Network

Categories: AnnouncementsPublished On: May 9th, 20212.4 min read

This integration supports USDC and USDS deposits and withdrawals for Stellar-based wallets and anchors.

Hello Stably Community!

The team has been heads down working hard globally here at Stably. We’ve launched another stablecoin bridge on the Stellar network for Stellar USDC. This is an integration for Stellar USDC (a US digital dollar stablecoin issued by Circle and governed by the Centre Consortium), and USDS, Stably’s Stellar-based US digital dollar stablecoin. The Stably team is really excited about this because this is just yet another giant leap forward in terms of traction in building out the digital ecosystem and network. In addition, Stellar’s growing network provides us with on/off-ramps in various countries, great for remittance and other use-cases

This partnership extends a widely adopted ecosystem standard to Stellar USDC, allowing Stellar-based applications and wallets to seamlessly facilitate deposits and withdrawals of the asset for their users. In addition, through our borderless payments account, Stably Prime, the Stellar ecosystem will have access to a whitelabel wallet platform that allows its users to serve customers in the US and abroad leveraging their own brands. Our state-of-the-art whitelabel services also extend to stablecoins, providing enterprises the ability to issue their own branded Stellar-based stablecoins for use throughout the Stellar ecosystem.

We’ve been working on this for a while as we established the partnership last quarter in 2020 to expand our products and services to Stellar. Now that this milestone has been reached, the next phase of the partnership will be focused on developing cross-border payment infrastructure through the implementation of Stellar Ecosystem Proposal 31 (SEP-31).

Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation said: “Stably shares our vision of creating a borderless financial world, where you have access to financial services no matter where you’re from. Our partnership and this integration is a step towards achieving that goal together, as we show the value and opportunity of a global network of stablecoins, supporting the Stellar ecosystem with the infrastructure they need to use Stellar USDC. It’s evident that the launch of USDC on Stellar brings exciting new partners and Stably’s latest offering speaks to our inspiring network of innovators and what our ecosystem can achieve together.”

The team is heads down on execution, execution, and execution right now. A lot more great updates to come that we cannot wait to tell you about. Want to learn more or connect?

To join the team, check out our careers page at www.stably.io/careers
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